Microfluidics is can be defined as the science of manipulating and controlling fluids inside the micrometer size channels. The application of microfluidic technology ranges from diagnostics to pharmaceutical research. The Microfluidics Market is being accepted in the healthcare application due to the rise in demand for point of care testing (POCT) and invitro diagnostics. The application of microfluidics in HIV testing at POCs is expected to reduce the cost which leads to the increase in demand for the technology. There are many regulatory standards being made to implement microfluidic systems in healthcare.

Scope & Regional Forecast of the Microfluidics Market

The increasing demand for microfluidics applications based on point of care devices and kits in in-vitro diagnostics is expected to push the growth of the point of care segment in the Microfluidics Market during the forecast period. The point of care testing devices are used in the genomics and proteomics. They can identify the DNAs of microbes that cause different diseases and are also used in the protein analysis.

Due to the rise in prices in various countries, companies operating in the Microfluidics Market are concentrating on developing low cost diagnostic devices that provide accurate results in less time. Hence, the point of care microfluidic platform has gained traction over the years due to benefits like low cost of development and the ability to generate rapid results. The microfluidic channel design occupies less space and needs fewer volumes of samples for analysis compared to the conventional diagnostic devices. This reduces the operation costs.

The Microfluidics Market is expected to grow due to the demand for low-volume sample analysis, high-throughput screening methodologies, introduction of advanced technologies etc. Microfluidic analysis offers high return on investment and controls the cost by minimizing the errors. The potential offered by micro fluidic dynamics has made both the industry and academia to introduce new techniques of sample identification and technologies that eliminate the mechanical errors.

North America dominates the Microfluidics Market due to presence of prominent market leaders, introduction of advanced technologies, and large number of researches for improving the volume optimization techniques. Asia Pacific is the fastest growing region in application of microfluidics due to availability of field experts, good research infrastructure and low labor cost.

Segmentations & Key Players Involved in the Microfluidics Market

The Microfluidics Market can be broken down into various segments as follows:

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